Oh yeah…um…naturally, net losses were up as well: $11.07 million, or 34 cents per share, versus $1.85 million, of 27 cents per share, in the same period last year. However, that number does represent a smaller loss than the fourth quarter 1999, when losses were $13.1 million, or 40 cents per share. Cash and accounts receivable as of March 31 were reported at $48.83 million, compared to $58.82 million at the end of 1999.
Musicmaker.com stock closed yesterday (4/27) down 9.09% to $2.50.
But let us not forget the company is the target of a class-action suit filed in U.S. District Court for the Central District of California on Feb. 25 which claimed that investors were misled about earnings related to a content deal with EMI.
That's gotta have a positive spin on the stock, right?
Bartender, another round of boilermakers, if you'd be so kind.
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